Insider Selling: Pagaya Technologies (NASDAQ:PGY) CFO Sells 11,553 Shares of Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) CFO Evangelos Perros sold 11,553 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $40.62, for a total value of $469,282.86. Following the completion of the sale, the chief financial officer owned 68,151 shares in the company, valued at $2,768,293.62. The trade was a 14.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Evangelos Perros also recently made the following trade(s):

• On Tuesday, September 9th, Evangelos Perros sold 14,356 shares of Pagaya Technologies stock. The shares were sold at an average price of $37.34, for a total value of $536,053.04.
• On Friday, September 5th, Evangelos Perros sold 9,435 shares of Pagaya Technologies stock. The shares were sold at an average price of $38.84, for a total value of $366,455.40.
• On Wednesday, July 2nd, Evangelos Perros sold 12,755 shares of Pagaya Technologies stock. The shares were sold at an average price of $22.57, for a total value of $287,880.35.

Pagaya Technologies Price Performance

Shares of PGY opened at $43.81 on Friday. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of -11.44 and a beta of 5.96. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.42 and a current ratio of 1.42. Pagaya Technologies Ltd. has a one year low of $8.20 and a one year high of $44.99. The stock’s fifty day moving average is $33.17 and its 200-day moving average is $20.72.

Institutional Investors Weigh In On Pagaya Technologies

A number of institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd boosted its position in Pagaya Technologies by 35.8% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,973 shares of the company’s stock worth $42,000 after acquiring an additional 520 shares during the period. Nisa Investment Advisors LLC boosted its position in Pagaya Technologies by 8.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,676 shares of the company’s stock worth $142,000 after acquiring an additional 526 shares during the period. Fox Run Management L.L.C. boosted its position in Pagaya Technologies by 1.9% during the 2nd quarter. Fox Run Management L.L.C. now owns 50,587 shares of the company’s stock worth $1,079,000 after acquiring an additional 919 shares during the period. GAMMA Investing LLC boosted its position in Pagaya Technologies by 21.2% during the 2nd quarter. GAMMA Investing LLC now owns 5,363 shares of the company’s stock worth $114,000 after acquiring an additional 938 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Pagaya Technologies by 9.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,361 shares of the company’s stock worth $130,000 after acquiring an additional 1,094 shares during the period. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PGY has been the topic of a number of research analyst reports. Oppenheimer raised their price target on Pagaya Technologies from $16.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods lifted their target price on Pagaya Technologies from $27.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Citigroup lifted their target price on Pagaya Technologies from $16.50 to $40.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Stephens began coverage on Pagaya Technologies in a research report on Thursday, June 12th. They issued an “overweight” rating and a $22.00 price target for the company. Finally, Benchmark increased their price target on Pagaya Technologies from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.33.

About Pagaya Technologies

Pagaya Technologies Ltd., a product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial institutions and investors in the United States, Israel, the Cayman Islands, and internationally. The company develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets.